BMR acquisition expected to be rubber stamped by mid-March
[wide][/wide]Berkeley Mineral Resources (LON:BMR) said its acquisition of underground ore bodies at Kabwe in Zambia is progressing through the regulatory process.
The transfer of the licences from Silverlining Ventures and Mineral Exploration requires the authorization of the country’s Competition and Consumer Protection Council.
It expects to receive ‘title’ to the surface rights to the stands it is acquiring after the CCPC meeting in mid-March.
In the meantime BMR has received an approval letter from the Environmental Council of Zambia approving the company’s plans for processing the lead and zinc dumps material at its site in Kabwe.
BMR is currently in the process of defining a resource on the leachplant and slags sections. An upgrade to the current statement is expected to be published by the end of next month.
Meanwhile, the prefeasibility study on the project continues as the company and its advisors looks at methods of optimising recoveries.
Chairman Masoud Alikhani said: “We are looking forward with keen anticipation to receiving the finalised JORC statements of the above-ground ore resources at Kabwe, in the next month.
“At the same time, the conclusion of the processing evaluations will put us in a position to proceed swiftly with the establishment of our beneficiation plant and go into production as soon as possible”./www.proactiveinvestors.co.uk